American International Group, Inc. $AIG Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 98.3% during the third quarter, HoldingsChannel reports. The firm owned 503 shares of the insurance provider’s stock after selling 29,305 shares during the quarter. Nemes Rush Group LLC’s holdings in American International Group were worth $37,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AIG. Gryphon Financial Partners LLC lifted its position in American International Group by 14.7% during the third quarter. Gryphon Financial Partners LLC now owns 3,277 shares of the insurance provider’s stock worth $244,000 after buying an additional 421 shares during the period. Kestra Investment Management LLC acquired a new stake in American International Group in the 3rd quarter worth about $324,000. Fulcrum Asset Management LLP purchased a new stake in American International Group in the 3rd quarter valued at about $1,463,000. Allspring Global Investments Holdings LLC grew its holdings in American International Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 25,324 shares of the insurance provider’s stock valued at $1,910,000 after buying an additional 1,136 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of American International Group by 40.5% during the 3rd quarter. Brighton Jones LLC now owns 25,702 shares of the insurance provider’s stock valued at $1,913,000 after acquiring an additional 7,405 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the transaction, the insider directly owned 556,004 shares of the company’s stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Key Headlines Impacting American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: UBS raised its price target to $103 from $100 and reiterated a Buy rating, implying substantial upside from the reference price. UBS price target update
• Positive Sentiment: Director John Inglis bought 128 shares for about $10,036, increasing his ownership by 4.78%. The purchase is a modest positive insider signal. Director purchase details
• Positive Sentiment: KBW reaffirmed its Buy rating on AIG, adding to the supportive analyst commentary. KBW rating
• Neutral Sentiment: Morgan Stanley maintained its Hold rating, indicating a more cautious view rather than a fresh positive catalyst. Morgan Stanley rating
• Neutral Sentiment: Piper Sandler lifted its target to $85 from $84 but kept a Neutral rating, suggesting limited conviction despite the small increase. Piper Sandler target update

American International Group Trading Up 3.3%

Shares of AIG opened at $82.28 on Wednesday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The firm has a market capitalization of $42.66 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.48. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $77.63 and its 200 day simple moving average is $77.03.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.18. American International Group had a return on equity of 10.86% and a net margin of 11.86%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, equities research analysts forecast that American International Group, Inc. will post 8.13 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, December 16th. American International Group’s dividend payout ratio (DPR) is 32.57%.

Analyst Ratings Changes

Several research analysts have recently weighed in on AIG shares. UBS Group increased their price objective on shares of American International Group from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley lowered their target price on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Wells Fargo & Company boosted their target price on shares of American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, November 5th. Bank of America reaffirmed a “neutral” rating on shares of American International Group in a research report on Wednesday, November 4th. Finally, Argus reaffirmed a “buy” rating and set a $90.00 price target on shares of American International Group in a research note on Wednesday, September 2nd. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.00.

About American International Group

American International Group, Inc. (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets. AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.